European shares declined on Monday as rising tensions between the United States and Iran unsettled investors. Tehran’s move to close the Strait of Hormuz raised concerns about oil supplies and regional stability, according to Reuters. The STOXX 600 index fell 0.3 percent to 639.29, extending losses after its largest weekly drop since late April. The escalation has clouded prospects for a recent U.S.-Iran agreement aimed at restoring shipping through the strait and supporting broader talks. Crude oil prices rose more than 4 percent, boosting energy stocks. The STOXX 600 energy index gained 1.6 percent, while technology shares dropped 1.2 percent. Market participants await the corporate earnings season for signs that profits can sustain current valuations. AkzoNobel shares rose about 3 percent after Nippon Paint offered 7.5 billion euros to buy its decorative paints unit.
